Diana Shipping Inc’s latest t/c fixtures

Chartering, Fixtures — By on December 17, 2012 at 2:21 PM

Diana Shipping Inc., announces time charter contracts for m/v Norfolk with Clearlake, m/v Alcyon with POSIDONIA 2012 6 JUNE 2012 019EDF and m/v Melite with Cargill

ATHENS, GREECE, December 17, 2012 – Diana Shipping Inc. (NYSE: DSX), a global shipping company specializing in the ownership and operation of dry bulk vessels, today announced that it has entered into time charter contracts for three of its vessels.

The Company has entered into a time charter contract with Clearlake Shipping Pte. Ltd., Singapore, through a separate wholly-owned subsidiary, for one of its Capesize dry bulk carriers, the m/v Norfolk. The gross charter rate is US$10, 700 per day, minus a 4.5% commission paid to third parties, for a period of minimum eighteen (18) months to maximum twenty-four (24) months. The charter is expected to commence at the beginning of January 2013.

Additionally, the Company has entered into a time charter contract with EDF Trading Limited, UK, through a separate wholly-owned subsidiary, for one of its Panamax dry bulk carriers, the m/v Alcyon, at a gross charter rate of US$7, 750 per day, minus a 5% commission paid to third parties, for a period of minimum twenty-three (23) to maximum twenty-nine (29) months. The charter is expected to commence at the end of December 2012.

The Company also has entered into a time charter contract with Cargill International S.A., Geneva, through a separate wholly-owned subsidiary, for another of its Panamax dry bulk carriers, the m/v Melite, at a gross charter rate of US$7, 750 per day, minus a 5% commission paid to third parties, for a period of minimum eighteen (18) to maximum twenty-four (24) months. The charter is expected to commence at the beginning of January 2013.

These three employments are anticipated to generate a total of approximately US$15.3 million of gross revenue for the minimum scheduled period of the charters.

The Norfolk is a 164, 218 dwt Capesize dry bulk vessel built in 2002, the Alcyon is a 75, 247 dwt Panamax dry bulk carrier built in 2001 and the Melite is a 76, 436 dwt Panamax dry bulk vessel built in 2004.

Diana Shipping Inc.’s fleet currently consists of 30 dry bulk carriers (17 Panamax, 3 Post-Panamax, 8 Capesize and 2 Newcastlemax), as well as 2 new-building Ice Class Panamax vessels expected to be delivered to the Company during the fourth quarter of 2013. As of today, the combined carrying capacity of our current fleet, excluding the two vessels not yet delivered, is approximately 3.4 million dwt with a weighted average age of 6.0 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute a part of this press release.

About the Company

Diana Shipping Inc. is a leading global provider of shipping transportation services through the ownership and operation of dry bulk vessels. The Company’s vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

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